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Source: JHVEPhoto / Shutterstock.comPeloton (NASDAQ:PTON) stock is getting a boost on Wednesday after the fitness company’s products started selling on Amazon (NASDAQ:AMZN).
This has Amazon carrying the Peloton Bike, Guide, accessories, as well as clothing. That’s a major change for the company as its products were previously limited to its website, inside channels, and showrooms.
Peloton notes that this change allows for customers to purchase its bikes with delivery in most of the U.S. That gives it a wider reach than before with Amazon customers being able to check if the fitness products are available for purchase and delivery in their area.
Kevin Cornils, CEO of Peloton, said the following about listing its products on Amazon.
“Expanding our distribution channels through Amazon is a natural extension of our business and an organic way to increase access to our brand. We want to meet consumers where they are, and they are shopping on Amazon.”
News of the Amazon listing has PTON stock seeing heavy trading on Wednesday! As of this writing, more than 41 million shares of the stock have been traded. That’s a massive surge next to its daily average trading volume of about 12 million shares.
PTON stock is up 17.9% as of Wednesday morning but is still down 62.4% since the start of the year.
Investors seeking out more of the latest stock market news are in luck!
InvestorPlace has them covered with all of the hottest stock market news for Wednesday! Among that is what has shares of Sunrun (NASDAQ:RUN), Bavarian Nordic (OTCMKTS:BVNRY), and Starbox Group Holdings (NASDAQ:STBX) stock in the news today. You can get up to speed on all of that at the following links!
More Wednesday Stock Market News
- Why Is Sunrun (RUN) Stock Up Today?
- BVNRY Stock Alert: What to Know as Bavarian Nordic Signs Supply Agreement
- Is Starbox Group (STBX) Stock the Next Big Meme Stock?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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